Cellectar Biosciences (NASDAQ:CLRB) Now Covered by Analysts at LADENBURG THALM/SH SH

Research analysts at LADENBURG THALM/SH SH started coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a report released on Friday. The firm set a “buy” rating and a $10.00 price target on the biopharmaceutical company’s stock. LADENBURG THALM/SH SH’s price objective indicates a potential upside of 212.50% from the stock’s current price.

Several other equities research analysts have also commented on CLRB. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cellectar Biosciences in a research note on Monday, April 20th. Roth Mkm reaffirmed a “buy” rating and issued a $11.00 target price on shares of Cellectar Biosciences in a report on Tuesday, May 5th. Finally, Maxim Group raised Cellectar Biosciences from a “hold” rating to a “buy” rating in a research report on Tuesday, March 10th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.50.

Cellectar Biosciences Trading Up 8.8%

Shares of Cellectar Biosciences stock opened at $3.20 on Friday. The company has a market capitalization of $13.57 million, a P/E ratio of -0.34 and a beta of 0.43. The stock has a fifty day simple moving average of $2.91 and a 200 day simple moving average of $3.15. Cellectar Biosciences has a 12-month low of $2.43 and a 12-month high of $20.60.

Cellectar Biosciences (NASDAQ:CLRB) last announced its earnings results on Thursday, May 14th. The biopharmaceutical company reported ($1.33) EPS for the quarter, beating the consensus estimate of ($1.88) by $0.55. On average, analysts predict that Cellectar Biosciences will post -1.84 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLRB. XTX Topco Ltd purchased a new stake in shares of Cellectar Biosciences during the 4th quarter worth approximately $36,000. DRW Securities LLC grew its holdings in Cellectar Biosciences by 114.2% during the fourth quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 24,089 shares during the period. Geode Capital Management LLC increased its position in Cellectar Biosciences by 15.0% in the fourth quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock worth $84,000 after buying an additional 3,744 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Cellectar Biosciences by 135.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 25,350 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 14,567 shares during the period. Finally, Citadel Advisors LLC bought a new stake in shares of Cellectar Biosciences in the third quarter valued at $104,000. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

Cellectar Biosciences Company Profile

Cellectar Biosciences, Inc is a clinical‐stage biopharmaceutical company focused on the development of targeted cancer therapies and imaging agents. The company’s proprietary phospholipid drug conjugate (PDC) technology platform is designed to selectively deliver therapeutic and diagnostic payloads to malignant cells while sparing healthy tissue. Through its PDC approach, Cellectar aims to improve the efficacy and safety profile of traditional treatments like chemotherapy and radiotherapy.

Its lead therapeutic candidate, CLR 131, is a radioisotope‐labeled PDC being evaluated in Phase II clinical trials for relapsed or refractory B‐cell malignancies, including multiple myeloma and non‐Hodgkin lymphoma.